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Staff in consultation at GE Money Home Lending

An undisclosed number of staff have been placed into consultation at GE Money Home Lending.

The lender has placed the IT and customer service divisions at its Watford office in consultation as it looks to simplify its operating structure.

A spokesman for the lender says: “We continuously review our business to ensure we operate effectively in what remains a challenging UK mortgage market.  

“Following the successful migration of our operations to one IT platform in August, we have reviewed our Watford operations and are proposing to simplify our IT structure, transfer customer services activity to our Truro call centre and adjust the size of other functions to support a more simplified organisation.

“We are currently in consultation with employees to discuss the details of the proposed changes and how they may be impacted.”

GE Money Home Lending will continue to operate from its Watford base but says it is unable to confirm how many employees will be affected by the changes.

The lender also says it is still committed to the intermediary mortgage market.

A spokesman adds: “GE Money Home Lending is the only UK specialist lender to continue lending through the economic cycle and has updated its product offering nine times during 2010  and 2011, with these offers being available to thousands of intermediaries.”

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  • GE Money VICTIM 16th November 2011 at 10:53 pm

    I am SO HAPPY, HAPPY HAPPY to read this. After the last two years of struggling as a self employed man to pay my mortgage this news is JUSTICE to my ears! The persecution, compassionless, greedy parasitic vultures that work for GE Money are now going to taste some misfortune! They have terrorised me, dumped me in court on two occasions, I am under constant threat of loosing my house. The GE Money attitude is nothiing short of loan shark nasty tactics of applying fear. A truly dreaful, extortion machine of illegal charges & greediness. I hope thewhole firm goes BUST! Oh how well I shall sleep tonight, there is a god after all. YIPEE I may even wait outside their offices to laugh at them as they walk out crying!

  • employee 28th September 2011 at 9:34 pm

    GE i general havegot plenty of money floating around….as a member of staff IN consultation, over the last few years, it has been an awful place to work….at soe point it will be good ridance to GEHL UK completely. Once liabilities are rid of i.e. staff, it will then be sold.

  • employee 28th September 2011 at 9:34 pm

    GE i general havegot plenty of money floating around….as a member of staff IN consultation, over the last few years, it has been an awful place to work….at soe point it will be good ridance to GEHL UK completely. Once liabilities are rid of i.e. staff, it will then be sold.

  • John Crescens 28th September 2011 at 11:11 am

    Ref above comment presumably consultation applies as numbers are not finalised and there is an appraisal process in place for some or all of the remaining positions.No mention made by the spokesman of any New Business/Underwriting redundancies but rumour has it suggests the Head of Underwiting is in consultation,which if correct and given his long service with IGroup and its predecessors suggest a greater move to automated tick box approval process.
    All in all a trying time for all involved in this harsh market place.

  • Rod Moulton 27th September 2011 at 4:52 pm

    This is sad and i concur with the comments made, but I do find it a tad silly to use euphemism such us “in consultation” when everyone knows that those on the receiving end of such “consultations” are actually very likely to be losing their jobs – if that wasn’t the case this story wouldn’t be newsworthy.

  • GJ 27th September 2011 at 2:15 pm

    i had the pleasure of working with these guys in Watford a couple of years back. Thoroughly professional and customer-focussed people. Good luck to all.

  • RW 27th September 2011 at 11:11 am

    I agree with Flo as I to have gone through this proceedure. There is no job for life in the real world that is in some union leaders head.

  • Flo 27th September 2011 at 10:27 am

    My thoughts go out to all the staff. I know from personal experience that being under consultation is so difficult and stressful for everyone involved.

  • Flo 27th September 2011 at 10:27 am

    My thoughts go out to all the staff. I know from personal experience that being under consultation is so difficult and stressful for everyone involved.